Sri Lanka Broadens Crop Insurance to Cover All Cultivations

The Agricultural and Agrarian Insurance Board has introduced new insurance schemes to provide coverage for all crop types across Sri Lanka, safeguarding against damages from natural disasters and wild elephants. While prioritizing crops such as cinnamon, rubber, banana, tea, and coconut, the board has also launched specific plans for new coconut plants and fruit cultivation, including pineapple and papaya. These initiatives offer subsidized premiums, with details like a Rs. 40 premium per coconut plant potentially securing Rs. 550 in annual coverage, and fruit crops insurable at 7% of their insured value.